Siemens Energy new share allocation

Can Trading 212 confirm new Siemens Energy shares will be allocated to existing Siemens AG shareholders per recent press release:

New shares to be transferred automatically to Siemens shareholders’ securities accounts
Due to the planned spin-off of Siemens Energy, shareholders of Siemens AG will hold shares in two publicly listed companies. As a result, they will be able to make decisions on their investment in each companies’ businesses activities separately and independently. When the public listing is completed, the new shares of Siemens Energy AG will be automatically transferred to Siemens shareholders’ securities accounts. Due to the allocation ratio of 2:1, Siemens shareholders who hold an odd number of shares will receive so-called fractional shares. These shareholders can then round off their holdings by placing a buy or sell order at the custodian bank hosting their securities account.

Thanks!

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Hello @Wolfgang,

We can only distribute the cash equivalent of the shares to be received from such corporate events. Once the spin-off is completed, we sell the distributed shares at the market and pass on the proceeds to the eligible accounts.

Please, can you guys at least make the new stocks available (as fractional) at spin-off time?

It will help a little until T212 can prober handle this scenario.

Thanks Peter. Can you explain why you can only pass on cash equivalent once spin off’s complete? This would appear to be T212 taking away customer’s ability to control their investments - which is a worry.

T212 doesn’t have this implemented yet… as Peter wrote in BEP to BEPC topic.

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Thanks for pointing me in the right direction.

@Wolfgang I agree completely that it is not optimal. As @laguiar mentioned, we are yet to implement the wider range of options, so the user can benefit from those events in the best way he finds fit.